Name: Jim Wyckoff 
U.S. Dollar Under Pressure Early Today
CURRENCIES
The September U.S. dollar index is lower in early
trading today. Slow stochastics for the dollar
index are neutral early today. The dollar index
finds shorter-term technical resistance at the
overnight high of 72.88 and then at 73.00. Shorter-
term support is seen at the overnight low of 72.46
and then at Monday’s low of 72.35. Today's key
near-term Fibonacci support/resistance level:
73.01. Wyckoff's Intra Day Market Rating: 3.5
The September Euro is firmer in early electronic
trading. Euro finds sell stop orders are likely
located just below technical support at the
overnight low of 1.5663 and then just below support
at 1.5600. Shorter-term technical resistance for
the Euro is seen at the overnight high of 1.5759
and then at Monday’s high of 1.5776. Buy stops
likely reside just above those levels. Slow
stochastics for the Euro are neutral early today.
Today's key near-term Fibonacci support/resistance
level: 1.5575. Wyckoff's Intra Day Market Rating:
6.5
GOLD
Gold is higher in early dealings today. For August
gold, shorter-term technical resistance is seen at
Monday’s high of $937.70 and then at the May high
of $940.10. Buy stops likely reside just above
those levels. Sell stops likely reside just below
support at the overnight low of $923.80 and then at
$920.00. Today's key near-term Fibonacci
support/resistance level: $914.00. Wyckoff's Intra-
Day Market Rating: 6.5
CRUDE OIL
Crude oil prices are solidly higher again early
today. In August crude, look for buy stops to
reside just above resistance at the all-time
contract high of $143.67 and then just above
resistance at $145.00. Look for sell stops just
below technical support at the overnight low of
$139.95 and then more sell stops just below support
at $138.00. Today's key near-term Fibonacci
support/resistance level: $139.00. Wyckoff's Intra-
Day Market Rating: 8.0
GRAINS
Prices were lower in overnight trading, with corn
leading the way. Corn bulls were shocked by Monday
morning’s USDA planted acres figure that was even
higher than the one in March, despite the recent
flooding in the Corn Belt. My bias is that corn
will become a good buying opportunity on this sell
off. Soybeans are fully bullish and wheat bulls
have faded badly and a near-term top is likely in
place in wheat. The key "outside markets" are
bullish today—-higher crude oil and a weaker U.S.
dollar.
